media releases

lululemon athletica inc. Announces Repurchase of One Million Shares from Advent International Corporation

VANCOUVER, British Columbia--(BUSINESS WIRE)--Mar. 28, 2019--
lululemon athletica inc. (NASDAQ:LULU) announced today that it has
agreed to repurchase one million shares of its common stock in a private
transaction with funds affiliated with Advent International Corporation
(Advent). These shares will be repurchased under the company’s $500
million share repurchase authorization and funded with cash on hand.
Following this transaction there will be $337 million remaining on the
Company’s share repurchase authorizations. Advent has also informed
lululemon that it has sold an additional four million shares of the
company’s common stock pursuant to Rule 144. Prior to these sales,
Advent owned approximately 10.1 million shares of lululemon common stock.

“We’re proud to be a continued partner in lululemon’s success, since our
initial investment in 2005 and in this subsequent investment five years
ago,” said David Mussafer, Chairman and Managing Partner at Advent
International and Lead Director of lululemon’s Board of Directors.
“Helping the team execute on its long-term goals is precisely what we
aim to achieve in any investment and this partial sale is consistent
with our planned monetization of our interest in lululemon.” Mr.
Mussafer continued: “We remain actively involved with the company as
investors and board members and look forward to its continued success
under Calvin McDonald’s incredible leadership.”

Calvin McDonald, Chief Executive Officer of lululemon, stated: “We
appreciate Advent’s ongoing partnership and continued guidance over the
years as the company has grown considerably. lululemon is stronger today
because of our work together, and we are pleased to complete this
transaction in a strong financial position.”

About lululemon athletica inc.

lululemon athletica inc. (NASDAQ:LULU) is a healthy lifestyle inspired
athletic apparel company for yoga, running, training, and most other
sweaty pursuits, creating transformational products and experiences
which enable people to live a life they love. Setting the bar in
technical fabrics and functional designs, lululemon works with yogis and
athletes in local communities for continuous research and product
feedback. For more information, visit www.lululemon.com.

Forward-Looking Statements:

This press release includes estimates, projections, statements relating
to our business plans, objectives, and expected operating results that
are "forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995, Section 27A of the Securities
Act of 1933 and Section 21E of the Securities Exchange Act of 1934. In
many cases, you can identify forward-looking statements by terms such as
"may," "will," "should," "expects," "plans," "anticipates," "outlook,"
"believes," "intends," "estimates," "predicts," "potential" or the
negative of these terms or other comparable terminology. These
forward-looking statements also include our guidance and outlook
statements. These statements are based on management's current
expectations but they involve a number of risks and uncertainties.
Actual results and the timing of events could differ materially from
those anticipated in the forward-looking statements as a result of risks
and uncertainties, which include, without limitation: our ability to
maintain the value and reputation of our brand; the acceptability of our
products to our guests; our highly competitive market and increasing
competition; our reliance on and limited control over third-party
suppliers to provide fabrics for and to produce our products; an
economic downturn or economic uncertainty in our key markets; increasing
product costs and decreasing selling prices; our ability to anticipate
consumer preferences and successfully develop and introduce new,
innovative and updated products; our ability to accurately forecast
guest demand for our products; our ability to safeguard against security
breaches with respect to our information technology systems; any
material disruption of our information systems; our ability to have
technology-based systems function effectively and grow our e-commerce
business globally; changes in consumer shopping preferences and shifts
in distribution channels; the fluctuating costs of raw materials; our
ability to expand internationally in light of our limited operating
experience and limited brand recognition in new international markets;
our ability to deliver our products to the market and to meet guest
expectations if we have problems with our distribution system; imitation
by our competitors; our ability to protect our intellectual property
rights; changes in tax laws or unanticipated tax liabilities; our
ability to source our merchandise profitably or at all if new trade
restrictions are imposed or existing trade restrictions become more
burdensome; our ability to manage our growth and the increased
complexity of our business effectively; our ability to cancel store
leases if an existing or new store is not profitable; increasing labor
costs and other factors associated with the production of our products
in South and South East Asia; the operations of many of our suppliers
are subject to international and other risks; our ability to
successfully open new store locations in a timely manner; our ability to
comply with trade and other regulations; the service of our senior
management; seasonality; fluctuations in foreign currency exchange
rates; conflicting trademarks and the prevention of sale of certain
products; our exposure to various types of litigation; actions of
activist stockholders; anti-takeover provisions in our certificate of
incorporation and bylaws; and other risks and uncertainties set out in
filings made from time to time with the United States Securities and
Exchange Commission and available at www.sec.gov,
including, without limitation, our most recent reports on Form 10-K and
Form 10-Q. You are urged to consider these factors carefully in
evaluating the forward-looking statements contained herein and are
cautioned not to place undue reliance on such forward-looking
statements, which are qualified in their entirety by these cautionary
statements. The forward-looking statements made herein speak only as of
the date of this press release and we undertake no obligation to
publicly update such forward-looking statements to reflect subsequent
events or circumstances, except as may be required by law.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding lululemon athletica inc (PR)'s business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.